ETH just delivered a clean momentum breakout, launching from the 3,200 region straight into 3,397 before cooling off. The 15m chart shows a textbook displacement move with almost no overhead resistance during the run. Price is now holding around 3,356, sitting comfortably above the MA5, MA10 and MA30, all of which have flipped into a steep bullish angle.

The breakout was driven by a mix of spot demand and leveraged positioning, but the candles show very little forced liquidation. No long wicks or panic spikes appeared on the way up. This means buyers pushed through liquidity naturally rather than squeezing shorts violently. Funding rates have ticked higher but remain within healthy bounds, showing traders are adding longs without creating an overheated environment.

Liquidity behavior is clear. The 3,350 to 3,400 band is a known resistance cluster and sellers were waiting there. Once ETH tapped 3,397, supply absorbed the final push and triggered a controlled pullback. Volume expanded heavily during the breakout and tapered on the retrace, which is exactly what you want to see in a strong trend. It tells us the move down is driven by profit taking rather than structural weakness.

Key support now sits around 3,320. As long as price holds above that level, ETH keeps a bullish posture for another attempt at reclaiming the upper range. A deeper pullback toward 3,280 is possible if momentum stalls, but that level would still be within a healthy trend zone.

Resistance remains at 3,395 to 3,400. A clean break above that range with strong volume would open the door for expansion into 3,450 and beyond.
For now ETH is showing strength, strong participation and a stable cooldown phase. Buyers remain in control until price loses the mid range supports.
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